Just received an email notification that the two coins, Avax and Hype, will go live on the well-established Singapore exchange Independent Reserve (IR) on August 12 next week.
The reason why IR is considered well-established is that it was one of the first to obtain the Major Payment Institution License from the Monetary Authority of Singapore (MAS) for virtual currency exchanges in Singapore back in 2021, allowing local retail investors to open accounts and trade and withdraw virtual currencies using Singapore dollars. IR has an Australian background.
I checked a few other exchanges that have obtained licenses in Singapore, and Avax has long been listed on Coinhako, Crypto.com, and Coinbase.
Hype has not yet been listed on Crypto.com and Coinhako, but it is already available on Coinbase.
Coinhako is a local Singaporean exchange that obtained its trading license in May 2022.
Crypto.com and Coinbase, both with American backgrounds, only obtained their trading licenses in Singapore in 2023.
At the IR exchange, it has just recently become possible to withdraw USDC and ETH on the Arbitrum and Base EVM chains.
At Coinhako, so far, EVM withdrawals can only be made on Ethereum.
The compliance requirements for tokens listed on exchanges in Singapore are high, the variety of tradable tokens is limited, and there are fewer public chain options available, which is a common characteristic of virtual currency exchanges in Singapore. However, compared to Hong Kong, the variety of tokens at Singapore’s exchanges is somewhat greater.
MAS is very clear about protecting local users' interests; tokens that are quickly listed have little chance of being listed on Singapore CEXs.
